A bill to require the Secretary of the Treasury to notify Congress with respect to actions taken relating to investment of the assets of the Social Security Trust Funds.

Summary

Amends titles II (Old Age, Survivors and Disability Insurance) and XVIII (Medicare) of the Social Security Act to require the Managing Trustees of the Federal Old-Age and Survivors Insurance Trust Fund, Federal Disability Insurance Trust Fund, Federal Hospital Insurance Trust Fund, and the Federal Supplementary Medical Insurance Trust Fund to report to the Congress whenever the assets of such funds are not fully invested in accordance with, or are redeemed in variance from, standard investment procedures. Requires such report to include an estimate, to be revised upon reinvestment of the assets, of any interest loss or gain which might result from such action.

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Timeline

1. 6 December 1985

   Introduced

   Read twice and referred to the Committee on Finance.

   Source: IntroReferral

2. 6 December 1985

   Introduced

   Introduced in Senate

   Source: IntroReferral

3. 9 December 1985

   Committee

   Committee on Finance requested executive comment from OMB, Treasury Department, Health and Human Services Department.

   Source: Committee

Votes

No vote records are attached yet.

Versions

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Documents

1 official file

• Introduced in Senate

  summary · EN · 6 December 1985

  Open at official source

Sponsors

• Sen. Mitchell, George J. [D-ME] · D · Sponsor
• Sen. Pressler, Larry [R-SD] · R · Sponsor
• · ssfi00 · Standing

Related records

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